BlackBerry share price rises amid rumours of Cerberus takeover bid
After having posted Q2 losses of almost $1 billion (£617 million) many have written off BlackBerry, with analysts and critics alike believing that its consumer arm may fall by the wayside, leaving the enterprise business alone. But new rumours of a prospective bid have caused a rise in the Canadian firm's share prices.
Although a preliminary agreement to sell the company to former board member Prem Watsa and his investment fund Fairfax Financial was signed last week, for $4.7 billion (£2.9 billion), it is believed that a rival that specialises in the acquisition of distressed companies, Cerberus Capital Management, is also readying a bid.
That company has declined the opportunity to comment, but the speculation alone has seen BlackBerry's share price rise by four US cents at the close of trading, to $7.96. It is still short of the $9 per share being offered by Fairfax, but is possibly the most positive news for the manufacturer in recent times.
It has also recently unveiled the BlackBerry Z30, its new, larger smartphone to run on the BlackBerry 10 operating system.
Read: BlackBerry Z30 review